Mitsubishi UFJ Trust & Banking Corp Acquires 17,030 Shares of Gartner, Inc. (NYSE:IT)

Mitsubishi UFJ Trust & Banking Corp increased its holdings in Gartner, Inc. (NYSE:IT) by 37.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,853 shares of the information technology services provider’s stock after buying an additional 17,030 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of Gartner worth $30,450,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Madison Investment Advisors LLC bought a new position in shares of Gartner in the fourth quarter worth $244,799,000. Raymond James Financial Inc. purchased a new stake in Gartner during the 4th quarter worth about $165,476,000. Fisher Funds Management LTD bought a new position in Gartner in the 4th quarter worth about $97,518,000. Proficio Capital Partners LLC purchased a new position in Gartner during the 4th quarter valued at about $95,762,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Gartner by 208.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 272,267 shares of the information technology services provider’s stock valued at $131,905,000 after buying an additional 183,974 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IT has been the subject of a number of analyst reports. Barclays upgraded shares of Gartner from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $525.00 to $600.00 in a research report on Friday, January 10th. Morgan Stanley cut their price target on shares of Gartner from $564.00 to $555.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company decreased their price target on shares of Gartner from $470.00 to $460.00 and set an “underweight” rating on the stock in a report on Friday, January 10th. StockNews.com lowered Gartner from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, Robert W. Baird decreased their target price on Gartner from $605.00 to $557.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Gartner currently has a consensus rating of “Hold” and an average price target of $536.63.

Insider Activity at Gartner

In other news, Director Eileen Serra sold 1,200 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total transaction of $587,724.00. Following the completion of the sale, the director now owns 1,627 shares of the company’s stock, valued at approximately $796,855.79. This represents a 42.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John J. Rinello sold 90 shares of Gartner stock in a transaction on Monday, February 10th. The stock was sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the transaction, the senior vice president now directly owns 3,259 shares in the company, valued at approximately $1,728,932.09. The trade was a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

Gartner Trading Up 1.1 %

NYSE IT opened at $426.43 on Thursday. The stock’s 50-day simple moving average is $497.88 and its two-hundred day simple moving average is $506.61. Gartner, Inc. has a twelve month low of $409.50 and a twelve month high of $584.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $32.76 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 3.30 and a beta of 1.29.

Gartner (NYSE:IT) last released its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $2.23. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. Gartner had a return on equity of 116.56% and a net margin of 20.00%. Gartner’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.04 EPS. Research analysts forecast that Gartner, Inc. will post 12.5 EPS for the current fiscal year.

Gartner Company Profile

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.